2025-09-30-莱坊-Finding_Hidden_Gems_in_Singapore_s_Private_Housing_Market_2024_-_Bedok_3页_11mb

Singapore Private Housing Market Summary: Focusing on Bedok

Core Content

Singapore's private housing market is characterized by a limited supply of landed homes, which are highly sought after due to their scarcity and status as premium assets. As the population grows and high-rise developments dominate, the proportion of landed homes has steadily declined from 34.2% of private housing stock in 2000 to 17.9% in 2023, and from 6.4% of all homes to 4.7%. This scarcity is expected to continue, making landed homes increasingly valuable for Singaporean homeowners.

Main Points

1. Landed Homes: A Scarcity-Driven Investment

• Scarcity: Landed homes are rare and are located at the top of the housing pyramid due to limited land availability.
• Population Growth: Singapore's population of 5.9 million requires high-rise living, which has significantly outpaced the growth of landed homes.
• Per Capita Availability: Only 0.02 landed homes per citizen exist, indicating that these properties are a luxury few can afford.
• Investment Appeal: Due to fixed supply and increasing demand, landed homes are seen as a secure investment for capital preservation and appreciation.

2. Who Can Buy Landed Homes?

• Eligibility: Only Singaporeans can generally purchase landed homes.
• HNW and UHNW Populations: These groups are driving demand due to their growing wealth and desire for high-value assets.
• Wealth Trends: The HNW population grew by 47.4% from 2017 to 2022, while the UHNW population increased by 50.9% in the same period. The UHNW population is projected to grow by 15.7% from 2023 to 2028.

3. Why Bedok?

• Largest Planning Area: Bedok has the highest resident population and number of dwellings among all 55 planning areas.
• Landed Home Proportion: Landed homes make up about 11.5% of the total housing stock in Bedok.
• Stable Sales: Landed home sales in Bedok have remained relatively stable, with an average of 250–350 transactions annually from 2015 to 2023.
• Price Trends: Prices of landed homes in Bedok have consistently increased over the past decade, despite occasional temporary declines.
• Affordability: Landed home prices in Bedok are generally lower than the islandwide average, offering better value for buyers.

4. Growth Prospects in Bedok

• Transportation Improvements: The Thomson-East Coast Line Stage 4, operational since June 2024, has improved connectivity to key areas like the CBD, Orchard, and Woodlands, as well as to JB via the RTS.
• Bayshore Development: The Bayshore masterplan, announced in October 2023, introduces waterfront living and new amenities, enhancing the area's appeal.
• Long Island Development: This 800 ha project, reclaimed from East Coast Park, is expected to add more homes, green spaces, and a new reservoir, boosting activity in the southern part of Bedok.
• Future Prospects: Bedok is poised to become a balanced mix of a mature estate and new growth areas, offering a unique living environment.

Key Information

Exhibit 1: Housing Stock Breakdown in Bedok

• Landed homes: 11.5% of total housing stock.
• Public and private homes: 108,143 total dwellings.

Exhibit 2: Landed Housing Performance in Bedok

• Average sales volume: 250–350 units annually from 2015 to 2023.
• 2021: 627 sales with a total value of S$2.5 billion.
• 2022: 326 units sold for S$1.5 billion.
• 2023: 226 units sold for S$1.1 billion.

Exhibit 3: Landed Home Prices in Bedok vs. Islandwide

• Landed home prices in Bedok have consistently been below the islandwide average.
• Price increases are expected due to the fixed supply and rising demand.

Exhibit 4: Top Five Property Gains in H1 2024

• BEDOK PESARI: Sold for S$3.8 million in April 2024, 251.9% return after 15 years.
• BEDOK RIA: Sold for S$4.4 million in February 2024, 165.5% return after 14 years.
• N.A. (LORONG J TELOK KURAU): Sold for S$4.6 million in May 2024, 163.0% return after 13 years.
• N.A. (JALAN SENYUM): Sold for S$5.8 million in June 2024, 161.8% return after 14 years.
• N.A. (SENNETT TERRACE): Sold for S$4.2 million in June 2024, 148.8% return after 15 years.

Conclusion

Bedok offers a compelling opportunity for those seeking landed homes in Singapore. With its unique blend of mature infrastructure and emerging growth areas, supported by improved transportation and new developments, it is becoming an attractive investment zone. The consistent price appreciation and affordability make it a strategic choice for both new buyers and existing investors looking to grow their portfolios.